Figment Accelerates its Leadership Position in Web 3 with $110 Million Series C Fundraise

Leading Software Investor Thoma Bravo Leads Fundraise at $1.4 Billion Post-Money Valuation to Further Figment’s Mission to Build a Better Internet.

NEW YORK - Figment, one of the world’s largest blockchain infrastructure and services providers, today announced a $110 million Series C fundraise at a $1.4 billion post-money valuation. The funding round was led by Thoma Bravo, a leading software investment firm, with participation from Counterpoint Global (Morgan Stanley), Binance Labs, Mirae Asset, ParaFi Capital, Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments, Bitstamp, CMS Holdings, Two Sigma, B Capital Group, Franklin Templeton, DTCP, and StarkWare.

Founded on a mission to build a better, more inclusive, and user controlled Internet by increasing usage of the next generation of Proof of Stake (“PoS”) blockchains, Figment has an industry-leading role in building the Web 3 ecosystem. Figment provides crucial blockchain infrastructure, protocol staking, and research, and is now expanding its reach into the application layer to give entrepreneurs and developers the ability to build amazing products and services on Proof of Stake blockchains. The fundraise caps a year of extraordinary growth for Figment and solidifies its position as a Web 3 industry leader. Driven by an increase in networks supported, expanded services, and employee and customer expansion and retention, Figment has experienced explosive year over year growth.

The new capital raised will expand Figment’s ability to support the adoption, growth and long-term success of the Web 3 ecosystem – as well as significantly grow its headcount.

“Figment has had an exceptional year marked by continued success and explosive growth as PoS has become mainstream amid the growing movement to make finance more accessible and inclusive,” said Lorien Gabel, co-founder and CEO of Figment. “The caliber of investors in our series C round cements Figment’s position as one of the most trusted and well-established platforms in the Web 3 ecosystem. We're seeing tons of experienced engineers jump from traditional software into this space. Many of these people have joined our team and we have created an amazing Web 3 native organizational culture around them.”

"We are thrilled to be partnering with the talented Figment team at an exciting point in their growth journey,” said Tre Sayle, a Partner at Thoma Bravo. “Figment’s dedication to creating a simplified process for building on the next generation of blockchain technology as well as their entrepreneurial culture sets the company apart and we’re excited to work with them as they usher in the Web 3 future.”

Business highlights in 2021 include:

  • Invested in recruiting and talent development efforts to significantly grow headcount to 118 global employees with zero employee turnover.
     
  • Reached over $7.5B in digital assets staked to its infrastructure across the 50+ supported networks, now supporting over 130+ institutional clients, up from 31 the previous year.
     
  • Launched Figment Capital, the investment arm of Figment that is dedicated to fueling the growth of new decentralized protocols and applications by leveraging the company’s wealth of experience, connections, and expertise in the Web 3 space and invest in innovative projects.
     
  • Joined the Pyth data oracle network as a core contributor and partner, working closely with Pyth network participants to bring even greater functionality and usability to the Pyth network.
     
  • Joined The Graph ecosystem as one of the three core protocol development teams, marking the next evolution of Web 3, which we believe will profoundly change the world.

 

ABOUT FIGMENT

Figment’s purpose is to build a better Internet by increasing usage of the next generation of Proof of Stake blockchains. These efficient blockchains give people greater control of their data, more privacy, and increase financial inclusion. By eliminating intermediaries they also limit the power of centralized data monopolies, rent seeking institutions and anti-social algorithms. We bring our mission to reality by helping investors stake their tokens; earn yield and participate in securing the blockchain. Our Hubble and Prime applications as well as our governance expertise allow token holders to analyze, monitor and make informed decisions. We build Web 3 developer communities via our Learn education program and then make it simple for these developers to launch applications and manage smart contracts via our DataHub platform. And finally by building and operating The Graph based indexers we enable the efficient search and querying of blockchain data.

 

Contacts

For Figment
Bob Ellison
(514) 996-7522
bob@figment.io

or

Vested Communications
Ryan Lannon
(905) 449-3123
ryan@fullyvested.com

For Thoma Bravo
Thoma Bravo Communications
Megan Frank
(212) 731-4778
mfrank@thomabravo.com

or

Finsbury Glover Hering
Abigail Farr
(646) 957-2067
abigail.farr@fgh.com